Payday has arrived for the Kingfish listed funds manager in the form of a bonus of more than $3 million after six years of failing to qualify for bonuses.
Chairman Alistair Ryan said Carmel Fisher's Fisher Funds Management has to vault high hurdles in order to earn such bonuses.
"What happens is that there is a thing called a 'high water mark', so Kingfish's performance can't just go up and down, every time it sets a high level, that sets the level it has to get past on a future occasion."
Mr Ryan said it set a very high level in 2007 prior to the global financial crisis.
He said it's taken this long before the performance of the fund has been able to get up and beyond the previous high water mark.
